Veterans Business Resource Centerhttps://vetbiz.com
Transitioning Military Skills Into Small Business SuccessWed, 20 Feb 2019 16:51:32 +0000en-UShourly1https://wordpress.org/?v=5.0.3https://vetbiz.com/wp-content/uploads/2018/05/cropped-2017-VBRC_color_logo_1_512x512-1-32x32.pngVeterans Business Resource Centerhttps://vetbiz.com
3232Business Owner Profile: Denny Leary – Peak Promotional Products, Inc.https://vetbiz.com/business-owner-profile-denny-leary-peak-promotional-products-inc/
https://vetbiz.com/business-owner-profile-denny-leary-peak-promotional-products-inc/#respondTue, 17 Apr 2018 19:28:42 +0000https://www.vetbiz.com/?p=361Read more]]>Today we focus on local veteran business owner Denny Leary, who founded Peak Promotional Group in January 2001. Before starting Peak, Leary was a photographer for the St. Louis Blues for over six years, worked for Delta Air Lines for 15 years, and ran his own travel company for 11 years. He is also president of not-for-profit Gateway Warrior Foundation, which last years raised $151,000 to support wounded servicemen. Leary was drafted into the Vietnam War at age 23, his son served in the Marine Corps, and his father was a fighter pilot in the Navy.

Leary’s Peak Promotional Group offers a wide array of services for clients looking to promote a new product, strengthen their brand, or who just need customized items for a project—whether that be specialized watches, rings, pens, or bronze statues. “When people say what do you do, I say ‘what do you need?’” said Leary.

One of Leary’s largest customers is the U.S. military for whom he has made millions of brochures, a couple hundred thousand backpacks, and other items such as challenge coins and lapel pins. Other large customers include Scottrade, Lexus, and Honda. In addition to local clients, Leary does business around the country, as far out as California.

In the more than 13 years that Peak has been in operation, Leary has had to adapt his business strategy to keep the company strong. “We got hammered pretty good in 2008,” said Leary. The Recession hit businesses like Leary’s especially hard. “It’s been a struggle because of the economy. What we sell are the first things that companies cut from their budget—promotional items.”

Leary did not want to simply sit and wait for the economy to improve. To fight through the tough economic times, he decided to take advantage of this country’s demographics and develop new services to cater to the growing elderly population. Leary established the Long Term Care Division within Peak to offer products such as pill cards and custom labels for pharmacies.

Another challenge for Leary in running Peak has been competing with larger companies. “We have to be pretty good at what we do or we don’t get the business,” said Leary. In both customer service and quality of the product, Leary seeks to outperform the competition. “We try to exceed the customer’s expectations.”

Proximity has helped Leary attract some major local clients, such as Scottrade. Leary recalled one afternoon when Scottrade called Peak to request 300,000 envelopes. Peak had delivered them to Scottrade’s offices by the following morning. “We react incredibly fast,” said Leary. He believes that this expediency is another factor that helps Peak steal business away from out-of-town competition. “If you give really good service, it’s almost like a license to steal,” said Leary.

Leary has also taken business away from competitors through his bold, sometimes risky, business tactics. For instance, when Cadillac was looking to create promotional collector pins for the company’s centennial celebration, Leary created twenty samples and sent them to Cadillac. His competitors, on the other hand, simply sent Cadillac virtual renderings of their designs. Leary knew that his was a risky strategy. “If we didn’t get the order, I had twenty very expensive samples.” Cadillac liked what they saw and commissioned Peak for the job. “People were shocked that we got the order because we were so small.”

It has been this determinism that has guided Leary to success as a business owner. “When people say you can’t do it, I tune them out,” said Leary. “I say to myself, I’ll figure out a way to do it.”

Leary believes that positive attitudes such as this are essential to a productive business operation. He stresses the importance of filling the office with employees who will bring positive energy. “You can’t change a bad attitude. Bad attitudes are contagious and you really have to weed them out. I don’t care how smart a person is, I don’t care how much experience they got—a bad attitude will destroy any small company.”

Another piece of advice Leary offers aspiring business owners is to conduct an honest and realistic review of your business plan. “You can have all the degrees in the world, but if you don’t do your homework and you’re not honest with yourself and you’re not honest with your banker and have a realistic plan you are going to fail.”

Of course, those business plans are not going to appear out of thin air. “Dream—there’s nothing wrong with it,” said Leary. “It’s amazing how many people get criticized for being dreamers. Without the dream, there is nothing. Without a dream you are not going anywhere.”

]]>https://vetbiz.com/business-owner-profile-denny-leary-peak-promotional-products-inc/feed/0Kauffman Entrepreneurial Mindsethttps://vetbiz.com/kauffman-entrepreneurial-mindset/
https://vetbiz.com/kauffman-entrepreneurial-mindset/#respondTue, 17 Apr 2018 19:27:20 +0000https://www.vetbiz.com/?p=359General musings by industry experts, consultants, conversations with Veteran business owners and other random items of importance we think Veteran small business owners should know.

]]>https://vetbiz.com/kauffman-entrepreneurial-mindset/feed/0Kauffman Entrepreneurial Mindsethttps://vetbiz.com/kauffman-entrepreneurial-mindset/
https://vetbiz.com/kauffman-entrepreneurial-mindset/#respondTue, 17 Apr 2018 19:27:20 +0000https://www.vetbiz.com/?p=359General musings by industry experts, consultants, conversations with Veteran business owners and other random items of importance we think Veteran small business owners should know.

]]>https://vetbiz.com/kauffman-entrepreneurial-mindset/feed/0Evaluating And Choosing The Right Franchisehttps://vetbiz.com/evaluating-and-choosing-the-right-franchise/
https://vetbiz.com/evaluating-and-choosing-the-right-franchise/#respondTue, 17 Apr 2018 19:25:56 +0000https://www.vetbiz.com/?p=357Read more]]>There are more than 3,000 different franchises available in the United States. How can you increase your chances of choosing the right one? Following these 10 steps can increase your chances of choosing a franchise that will make you successful both from a personal and financial standpoint.

1. Determine what you can afford and are willing to pay to open your business – It is critical to determine what you can afford to pay. This entails evaluating your personal savings, the equity that you have in your home or real estate, and your personal credit score. All of these will come into play as you look to invest in your new franchised business.

2. What do you bring to the table? – While it is not critical for you to stay in the industry you have worked in your entire adult life, you should look at opportunities where your skills and experience will benefit you. Also assess what you want to do and what your family and personal circumstances allow or prevent you from doing.

3. Research the Market – Use the Internet, trade associations, etc. to research particular business markets you are interested in. When researching, avoid the temptation of allowing pure emotion (you did not get enough vacation days, the new person in the office ticks you off) to cloud your judgment when it comes to fully understanding what the business actually does and the market it can be expected to draw from.

4. Research the Franchise Opportunity – There are three main reasons to join a franchise. Investigate all of them:

The Brand – what value does the name hold in the market place? Does it garner immediate recognition and respect? Does the brand have a positive reputation? Has the franchise done a good job with trademarking their marks and do they protect them from infringement? Will the brand help drive business?

The Operating System – what processes have been developed by the franchisor to enable their franchisees to operate more efficiently and provide a better product than their competitors? How do they enforce compliance? Is the operating system consistent from location to location? What is the competitive advantage?

The Ongoing Support – Does the franchise company provide operations, marketing, real estate, or business development support? What expertise do they and the franchise owner have in these areas? Are these people contracted out or are they employees of the franchisor? Do they regularly visit your location? Do you pay separately for these services or are they part of the franchise fee?

5. Speak to Existing and Former Franchisees of Your Choosing – Don’t just settle for the existing owners the Franchise Company gives you to call. Find where others are located and contact them. Find out what they like and don’t like about the franchise. Ask them questions like:

How has your business grown?

What surprises have you experienced both good and bad?

Do the company marketing programs generate profitable business?

Does the franchisor provide you with great service, a valuable brand, and an operating system that competes effectively in the marketplace?

Are you happy with the franchise?

Do you feel you get good value for the fees you pay?

Would you do it again if you had the decision to make now?

What are realistic expectations for sales and profits in year 1, year, 2, and ongoing? Are your expectations realistic?

Would you be willing to spend a few hours letting me see your operation and discussing it?

6. Get Sound Professional Advice – There are a large number of professional advisors that specialize in franchising including consultants, accountants, banks, and attorneys. These people are invaluable in making sure that you are taking the right steps and aren’t missing out on any critical information. This is particularly important when reviewing the Franchise Disclosure Document (FDD) and Franchise Agreement. It is important to note that like anything else, some of these professionals are better than others so research them to see which one is right for you.

7. Read the Franchise Disclosure Document (FDD) Completely – the franchisor is required by law to provide you with an FDD before you sign any franchise agreements or pay them any money. The best way to describe an FDD is that it is mostly everything you would want to know about a franchisor written by their attorneys. It is not exciting reading but it is crucial that you understand everything in it. This document will discuss you and the franchisor’s responsibilities. It is critical that you obtain non-biased professional legal advice on this document, preferably a franchise attorney.

8. Ask the Franchisor Questions – Here is a sampling of questions to ask the franchisor:

What is your company’s primary focus? Are you looking to expand solely through franchising or do you plan to open company-owned locations?

What will my protected territory be?

How do you resolve conflicts? Note: Be sure to look at existing litigation in the FDD

Where should my business be located?

Do you help with my business plan?

Do you provide financing in-house? Do you provide funding help?

What areas of support do you provide?

9. Be Sure of Your Decision – Take your time and make sure you are making a great decision. This is likely to be one of the biggest decisions of your life. Over the course of the franchise agreement, you are likely to pay the franchisor hundreds of thousands of dollars. If you have any doubt in your mind, then you probably haven’t done enough research.

10. Contact your Friends at the Veterans Business Resource Center – We can help you evaluate the opportunities and work with you from the beginning through opening and as your business matures. There is no cost to veterans for our services.

]]>https://vetbiz.com/evaluating-and-choosing-the-right-franchise/feed/0Networking: If it was easy, they would all do it!https://vetbiz.com/networking-if-it-was-easy-they-would-all-do-it/
https://vetbiz.com/networking-if-it-was-easy-they-would-all-do-it/#respondTue, 17 Apr 2018 19:24:59 +0000https://www.vetbiz.com/?p=355Read more]]>Networking is not easy. You must dedicate time and energy to meet potential clients and to gain information that will help you grow your business. Here are some helpful tips to assist you in becoming a networking guru.

Pay Attention to the News. The next time you hear a story in the news that a leader in your field has won an award, been appointed to a position or made a positive impact in the community; send him/her a note of congratulations. Acknowledging the accomplishment gives you a perfect opportunity to introduce yourself and ask for advice or an appointment.

Join Professional Organizations. Do not just attend local meetings but participate as well? If not, you will find that this is one of the best ways to network with either people who can give you professional advice on how to improve your business and other types of assistance. These organizations can also assist you in meeting other business people that can give you leads to potential clients who need your services.

Get involved with Seminars. Many community colleges or professional organizations in your area provide free to low cost seminars in marketing, public speaking or other professional development topics. These seminars will give you new and interesting ways to organize run or promote your business. These types of activities also provide opportunities to meet and talk with other people like yourself and can keep you motivated. Check local business papers for information.

Volunteer with a Purpose. What is the point of sitting at home avoiding the phone because a bill collector might be on the line? Staying in only serves to help you spiral into depression and isolates you from your network. While you are waiting for that perfect call from a potential employer, why not get out and volunteer at your favorite charity or someplace you have always wanted to work. Volunteering serves many purposes. 1.) You can maintain and/or develop skills that will help you in your next career opportunity. 2.) You will be providing a nonprofit much needed respected and appreciated talent that many organizations could not afford to pay for especially in touch times. And 3.) you will stay connected to your network and build a stronger network as people are able to see your volunteer work and will think of you when they hear of an open position.

Prepare a Networking Goal: Many make the mistake of just showing up at an event and passing out cards. We take time to figure out what events are important for us to attend, find the proper business attire and practice our 30 second “elevator speech” but often forget to understand what we want to leave with from the event. We need to make sure that our time there is impactful and we get to the right people for our needs. Here are some helpful tricks to keep you focused:

Only take a small number of business cards – no more than 10. This will remind you as you go thru them that you need to be clear and focused on getting your information to the right few people

Keep them in one pocket – pick a side to take cards from and use the other side to add cards to. You should leave with as many cards as you gave out. If you started with 5 and end up with only 4 cards plus 1 of your own, you can adjust your networking accordingly.

Keep blank cards available with a pen – sometimes people forget their business cards. Having blank cards in your pocket allows you to write down the person’s information plus it will help you remember that person to write his or her name down and why you have their information.

Have note cards ready to mail – this is a lost art and it is very appreciated by all. You can always send and email and make a phone call, but having already addressed notecards available in your car or home to write a quick “it was great meeting you” note goes a long way to help people remember you from the many others they met that day.

]]>https://vetbiz.com/networking-if-it-was-easy-they-would-all-do-it/feed/0Networking: If it was easy, they would all do it!https://vetbiz.com/networking-if-it-was-easy-they-would-all-do-it/
https://vetbiz.com/networking-if-it-was-easy-they-would-all-do-it/#respondTue, 17 Apr 2018 19:24:59 +0000https://www.vetbiz.com/?p=355Read more]]>Networking is not easy. You must dedicate time and energy to meet potential clients and to gain information that will help you grow your business. Here are some helpful tips to assist you in becoming a networking guru.

Pay Attention to the News. The next time you hear a story in the news that a leader in your field has won an award, been appointed to a position or made a positive impact in the community; send him/her a note of congratulations. Acknowledging the accomplishment gives you a perfect opportunity to introduce yourself and ask for advice or an appointment.

Join Professional Organizations. Do not just attend local meetings but participate as well? If not, you will find that this is one of the best ways to network with either people who can give you professional advice on how to improve your business and other types of assistance. These organizations can also assist you in meeting other business people that can give you leads to potential clients who need your services.

Get involved with Seminars. Many community colleges or professional organizations in your area provide free to low cost seminars in marketing, public speaking or other professional development topics. These seminars will give you new and interesting ways to organize run or promote your business. These types of activities also provide opportunities to meet and talk with other people like yourself and can keep you motivated. Check local business papers for information.

Volunteer with a Purpose. What is the point of sitting at home avoiding the phone because a bill collector might be on the line? Staying in only serves to help you spiral into depression and isolates you from your network. While you are waiting for that perfect call from a potential employer, why not get out and volunteer at your favorite charity or someplace you have always wanted to work. Volunteering serves many purposes. 1.) You can maintain and/or develop skills that will help you in your next career opportunity. 2.) You will be providing a nonprofit much needed respected and appreciated talent that many organizations could not afford to pay for especially in touch times. And 3.) you will stay connected to your network and build a stronger network as people are able to see your volunteer work and will think of you when they hear of an open position.

Prepare a Networking Goal: Many make the mistake of just showing up at an event and passing out cards. We take time to figure out what events are important for us to attend, find the proper business attire and practice our 30 second “elevator speech” but often forget to understand what we want to leave with from the event. We need to make sure that our time there is impactful and we get to the right people for our needs. Here are some helpful tricks to keep you focused:

Only take a small number of business cards – no more than 10. This will remind you as you go thru them that you need to be clear and focused on getting your information to the right few people

Keep them in one pocket – pick a side to take cards from and use the other side to add cards to. You should leave with as many cards as you gave out. If you started with 5 and end up with only 4 cards plus 1 of your own, you can adjust your networking accordingly.

Keep blank cards available with a pen – sometimes people forget their business cards. Having blank cards in your pocket allows you to write down the person’s information plus it will help you remember that person to write his or her name down and why you have their information.

Have note cards ready to mail – this is a lost art and it is very appreciated by all. You can always send and email and make a phone call, but having already addressed notecards available in your car or home to write a quick “it was great meeting you” note goes a long way to help people remember you from the many others they met that day.

]]>https://vetbiz.com/networking-if-it-was-easy-they-would-all-do-it/feed/05 QUICK SOCIAL MEDIA TIPShttps://vetbiz.com/5-quick-social-media-tips/
https://vetbiz.com/5-quick-social-media-tips/#respondTue, 17 Apr 2018 19:24:06 +0000https://www.vetbiz.com/?p=353Social Media, something that seems so simple, yet is so complicated to those who don’t
regularly use it. People who use it frequently just don’t seem to comprehend how
difficult it can be for people new to social media or to internet functions. With this in
mind, I want to give you all 5 tips on how to use Social Media.

1. Pick the Right Platform for your Target Market: ​ Whether it be Facebook, Twitter, Instagram, or maybe all 3! You are the only person who knows what kind
of people your business is trying to reach.

2. Be Human, have fun: ​ I know this sounds silly, but when your company gives true, honest responses, it gives the customer a feeling that you have a personal
commitment to them; that you care about your customer. Being humorous insome responses can help to create a great lasting impression with customers.

3. Don’t bring it home with you: ​ Don’t sync your business account with your personal phone. Social media can be fun, but when you bring it home with you, it
can stress you out and become a 24/7 job. There are so many tools to help you
do this, take advantage of them! They’re free!

4. Check Grammar: ​ I get that people when on a phone, don’t pay as much attention to capitalization and maybe where some punctuation should go, but if
you’re going to use Social Media, you need to give off a truly professional vibe.
People won’t take you seriously until you take yourself seriously.

5. Keep it Simple: ​ Whatever platform you use, keep it simple. There’s no reason to post 3 pages worth of content. Have short little memos that people can read in
3­5 seconds. You want to engage people, not bore them.

And with that, I’m done!

]]>https://vetbiz.com/5-quick-social-media-tips/feed/0SBA BLOGShttps://vetbiz.com/sba-blogs-2/
https://vetbiz.com/sba-blogs-2/#respondTue, 17 Apr 2018 19:23:35 +0000https://www.vetbiz.com/?p=351Very excited about linking you to experts in small business from around the country. Check out the SBA’s blog site for excellent, quick content. Hooah!

]]>https://vetbiz.com/sba-blogs-2/feed/0SBA BLOGShttps://vetbiz.com/sba-blogs/
https://vetbiz.com/sba-blogs/#respondTue, 17 Apr 2018 19:23:35 +0000https://www.vetbiz.com/?p=351Very excited about linking you to experts in small business from around the country. Check out the SBA’s blog site for excellent, quick content. Hooah!

]]>https://vetbiz.com/sba-blogs/feed/0RECEIVING AND USING AWARD RECOGNITIONhttps://vetbiz.com/receiving-and-using-award-recognition/
https://vetbiz.com/receiving-and-using-award-recognition/#respondTue, 17 Apr 2018 19:22:57 +0000https://www.vetbiz.com/?p=349Read more]]>We are proud to write a monthly column for FranchisingUSA Magazine. If you wish to view this article and all of our articles inside the magazine. Please follow this link.

Ever wonder how your competitors win all those industry awards and what use they are after the chicken dinner ceremony? Here is a little secret. Many companies seek out these awards and nominate themselves. Yes that is correct. Outside of an independent agency finding through surveys that the company actually has “high customer satisfaction”, the “best quality item” or the “number one sales team”, companies often have a designated if unofficial “awards seeker” on staff. This person’s job is to identify opportunities for a company to be recognized in a positive light.

Despite the initial reaction, doing this is a good use of company time. Receiving accolades as the “Veteran Small Business of the Year” or “Best Place to Hold a Meeting” can bring a wonderful boost to employee morale, create free, positive public relations and make for great visuals during customer interaction. However, as with all things business, it does depend on what you do with the award and recognition that determines its value to your business. Here are a few pointers on locating the right awards and extending the value to your company after the pomp and circumstance.

First, dedicate someone in your company (maybe that is you) to spend around 10 – 15 percent of time finding ways to be recognized in the community or industry in which you work. Review competitor’s websites, industry papers and community periodicals to understand what awards are being promoted.

Next, make a table which includes award type, date due, the geographic reach of the award PR and expectations. Do not limit the awards to the company as an entity alone. Perhaps you wish to recognize individuals inside of the company as well.

Award Title/Type

Date Due

Geographic Influence

Collateral Received

Requirements to Apply

Winner Expectations

Small Business of the Year

January 3

Local & Regional (MO, IA, KC)

Comes with plaque, website logo

In business 3 yrs, $50k revenue

Attend dinner in Chicago

There may be other categories depending on your industry

Finally, meet with your team and determine if these requirements are feasible within the timeline required and if they align with your company goals. This may take a few meetings to do. I always suggest stopping after the third meeting if you are unable to come to a consensus to move forward. Perhaps another conversation about company alignment is in order.

If you decide to move forward with the nomination, a good packet is key to landing the recognition. A few tips to grabbing the win:

Re-Read and make sure you understand the criteria for evaluating who the award recipients.

Try to identify something that can serve as a theme in the letter that sums up the nominees qualifications. i.e. “strong community ties”.

Ask another company to nominate your agency or employee. Perhaps that vendor does not realize the importance of a win for you. Just ask. They can only say no.

If at first you don’t succeed, revise the letter as needed and nominate again at the next opportunity.

The most overlooked tip however, is to nominate others…a lot. One of the best things your company can do to improve your reputation is to be seen as an involved, caring entity in your community. One way to do this, is to spread the love. If a vendor that you deal with has outstanding customer service, nominate them or the individual. Do this for as many of your vendors or other small businesses that you can afford to spend time doing. When the judges on the review panel handing out the “Best Work Environment” award sees your company name consistently on nomination packets, it will stand out. When they see your name coming in from others, your likelihood of landing that award increases. Every judge I have ever met likes to see a company that is not only “outstanding” but is a good neighbor as well.

Award After Action

After you have nailed the award, the real work begins. You should incorporate the win into everything you do.

Ask the awarding agency for a graphic that can be placed on your company website or letterhead. If they do not have one, create one of your own if you have the capabilities. If not, a simple “Voted Best Place To Work” text will do.

Hold a company rally, even if that is just around the two desks in the office, and congratulate everyone for their part in making this award happen. Ensure that every employee understands how the win impacts the company’s image.

Send out a public release to your vendors, customers and media outlets announcing how excited you are about the recognition. Thank the appropriate people and express how you plan on continuing to be “the best”. Three quick bullets should do.

Incorporate the “2016 Best Work Environment” line into every speech of the sales people, executives and receptionist. For the remainder of the year answer the phones “Thank you for calling Space Savers voted Best Work Environment by Carpenter Magazine how may I help you.” Be proud of your accomplishment.

After the year is over, simply add on the year. You can do this for at least two years. I would not suggest more than that besides you will have other awards to be proud.

To recap. Spend no more than 15 percent of your time going after a specific group of awards. Nominate others and be a good neighbor. Thank the appropriate people after the win. Incorporate the win into your company message. Good luck.